The board is asking shareholders to approve Musk’s compensation package after it was struck down by a Delaware judge.
The proposals come amid a difficult stretch for Tesla, whose shares have fallen 37% so far in 2024.
Tesla’s rocky year — plagued by price cuts, recalls and layoffs — continued Monday as shares of Elon Musk’s electric vehicle company dropped more than 3% ahead of Tuesday’s much-anticipated quarterly earnings. Tesla stock fell for the seventh straight day, closing at $142.05, its lowest price since closing at $133.42 on Jan. 20, 2023. Since
A strike by Tesla mechanics in Sweden, among the country's longest labour disputes, continues to disrupt operations, a union said on Wednesday, and is drawing scrutiny from investors despite Elon Musk saying the storm is over. For months Tesla has been under pressure in the Nordics, with sympathy actions since October backing Swedish IF Metall's mechanics' demand for a collective agreement. Postal workers, garbage collectors, repair centres, port workers, electricians, and cleaners are among...
Tesla CEO Elon Musk faces heightened pressure with Tuesday's earnings report to reassure investors that recent stumbles are simply unexpected speed bumps -- and not indications of a road to decline.The electric car maker, which enjoyed scorching growth for most of 2022 and 2023, has experienced setbacks that analysts say have raised the stakes for the first-quarter report.Tuesday's earnings and conference call are a moment of truth for Tesla and Musk, constituting one of the most important...
Tesla chief Elon Musk has postponed a planned trip to India where he was to meet Prime Minister Narendra Modi and announce plans to enter the South Asian market, four people familiar with the matter say. Tesla and Modi’s office did not immediately respond to requests for comment. After Reuters reported his India trip plans […]
Tesla stock is priced for a mainstream, autonomous future, but the company faces strategic uncertainty, leadership troubles, and hardening competition.
Tesla announced global workforce reductions of "more than 10%" in an internal email Monday to staff from CEO Elon Musk, according to electric-vehicles.com, a specialist outlet, in a report later covered by Reuters.Newsweek has not seen the original email and was unable to verify its content. Tesla did not respond to a request for comment.The ContextThe reported layoffs come amid a tough start to the year for Elon Musk and his electric-vehicle company. Quarterly results released at the beginning...
The Tesla Cybertruck is, for all its sharp angles, a Rorschach test. I saw one in the wild for the first-time last week, the gray behemoth slowly pulling through an intersection in my neighborhood. It drew the reaction its driver likely wanted out of two bystanders, both men, who seemed impressed by the shiny steel chassis. For my part, I could only see a very large pile of money, on wheels and on fire in the hopes of drawing envious glances. There are arguably two arsonists in this metaphor:...
(Bloomberg) -- Elon Musk’s underlings at Tesla Inc. are accustomed to chaos. It comes with the territory of working for a chief executive who sets exacting targets and often abruptly switches directions — whose biographer describes his more intense moods as “demon mode.”Most Read from BloombergElon Musk’s Robotaxi Dreams Plunge Tesla Into ChaosTikTok to Remove Executive Tasked With Fending Off US ClaimsTrump Has Only $6.8 Million for Legal Fees With Trial UnderwayTesla Spends Weekend Cutting...
The deal, if approved by shareholders and judges, would be the largest in corporate America.
Having announced relatively large layoffs and with no turnaround in sight, Elon Musk is asking Tesla shareholders for $47 billion. It is baffling why Tesla shareholders would want to pay Elon Musk to keep up his "good" work, but the Board is asking folks to vote for a new, not actually reduced, pay package for the Pedo Guy. — Read the rest